Global Banking Powerhouses Plan Issuing New Stablecoins Tied To G7 Currencies
A consortium of major banks, including Bank of America, Citi, Deutsche Bank, Goldman Sachs, and UBS, announced on Friday that they will collaborate to explore the development of stablecoins pegged to G7 currencies. A New Era For Crypto In Mainstream Finance The renewed interest in stablecoins comes in the wake of US President Donald Trump’s endorsement of the sector, which has reignited discussions about integrating blockchain technology into mainstream finance. Currently, the stablecoin market is heavily dominated by Tether (USDT), based in El Salvador, which accounts for....
Related News
The U.K. government has unveiled a detailed plan to make the country a global crypto hub and “a hospitable place for crypto.” The plan includes establishing a dynamic regulatory framework for crypto, regulating stablecoins, and working with the Royal Mint to create a non-fungible token (NFT) to be issued by the Summer.
U.K. Wants to Be ‘the Very Best Place’ to Start and Scale Crypto Companies
The British government unveiled several initiatives Monday as part of its plan to make the U.K. “a global cryptoasset technology hub.”
....
Pennsylvania is joining increasing number of U. S. states issuing warnings on digital currencies. The Pennsylvania Department of Banking and Securities today released an announcement urging consumers, businesses, and investors to consider the risks of getting involved with digital currencies - namely bitcoin and litecoin. "These virtual currencies - unlike U. S. dollars - are not backed by tangible assets or the full faith and credit of the U. S. government, and currently are subject to little or no regulation in any country," said Glenn Moyer, Secretary of Banking and Securities. "In....
Stablecoins allow investors to stay on the sidelines and earn passively on their holdings, but not all stablecoins are created equal. Cryptocurrencies are well-known for being volatile assets, which means that experienced traders have plenty of opportunities in the space. Investors can expect to be taken on a wild ride if they plan on holding for a long time.Stablecoins, a class of cryptocurrencies that offers investors price stability pegged to the value of fiat currencies, offer investors a safe haven when market turbulence hits but may represent missed opportunities over time.Speaking....
Stablecoins are in hot water in The States… or are they? The U.S. Senate Banking Committee sent letters to Circle, Tether Holdings Ltd., “Coinbase, Gemini, Paxos, TrustToken, Binance.US, and Centre.” What do these companies have in common? They all issue stablecoins pegged to the US Dollar. Is the US government doing a serious inquire this […]
The Pennsylvania Department of Banking and Securities, issued a note identifying the 'top emerging threats facing investors in 2015,' where the state agency warns investors of the risks associated with digital currencies. "We are living in an age where traditional financial and investing relationships are being transformed rapidly and sometimes in confusing fashion by technology and innovation," said Glenn E. Moyer, Secretary of Banking and Securities, in a statement. The North American Securities Administrators Association (NASAA), of which the Pennsylvania Department of Banking and....